Marketing to Hispanic Millennials - US - June 2017

Marketing to Hispanic Millennials - US - June 2017

The Hispanic Millennial generation is aged 23-40 in 2017 and accounts for the largest share of the Hispanic population. Moreover, 21% of all US Millennials are of Hispanic origin. The majority of Hispanic Millennials are bilingual and bicultural and want to fit in both the American and the Hispanic world, which creates opportunities to brands as they are open minded and willing to come out of their comfort zone. By studying Hispanic Millennials brands may be able to uncover significant hints about the future of the coveted Hispanic market.

Table of Content

OVERVIEW
What you need to know
Definition

EXECUTIVE SUMMARY
The issues
Hispanic Millennials are confident about handling their present
Figure 1: Hispanic Millennials’ confidence with their ability to perform duties/tasks – Select duties/tasks, percent difference vs all US Millennials, April 2017
Multiple content sources are changing the market landscape
Figure 2: Content and social media trends positively impacting Hispanic Millennials, percent difference vs all US Millennials, April 2017
The opportunities
Hispanic Millennials’ optimism about their future
Figure 3: Hispanic Millennials’ optimism about their future, percent difference vs all US Millennials, April 2017
The social and content aspects of the internet
Figure 4: Hispanic Millennials’ “must-have” online services – Select services, percent difference vs all US Millennials, April 2017
The need for trust
Figure 5: Hispanic Millennials’ sharing economy participation, by level of acculturation, April 2017
If you find them, they can listen
Figure 6: Hispanic Millennials’ attitudes toward advertising, indexed to all Millennials, October 2015-November 2016
What it means

HISPANIC MILLENNIALS – WHAT YOU NEED TO KNOW
More than one in four Hispanics are Millennials
The majority of Hispanic Millennials speak both English and Spanish
English is key for Hispanic Millennials to have access to better opportunities
The earlier arrival of children is one reason why Hispanic Millennials are bicultural

MARKET OVERVIEW
Understanding Hispanic Millennials is key to understanding the direction of the Hispanic market
Figure 7: Population, by Hispanic origin and generation share, 2017
Hispanic Millennials are not only bilingual, they are bicultural
Figure 8: Language Hispanic Millennials speak at home, October 2015-November 2016
Figure 9: Hispanics’ level of acculturation, by generation, April 2017
Fluency in English is opening opportunities for Hispanic Millennials
Figure 10: Self-reported household income, by Hispanic origin and language spoken at home, October 2015-November 2016
Hispanic Millennials have children earlier
Figure 11: Parent status, by Hispanic origin and age, October 2015-November 2016

KEY TRENDS – WHAT YOU NEED TO KNOW
Some differences worth knowing
Hispanic Millennials have a strong sense of responsibility
Hispanic Millennials seem more open to listening to what brands have to say
Hispanic Millennials love to shop…
…and much of that shopping may be with their children in mind
Some challenges worth knowing
Defining your target will dictate the best approach
Simply put, standing out
Context can challenge stereotypes
Facing criticism

OPINIONS ON SOCIAL MEDIA
Hispanic Millennials recognize that social media is addicting
Figure 19: Hispanic Millennials’ opinions on social media, percent difference vs all US Millennials, April 2017
Stark differences in social media perceptions when comparing Hispanic Millennials vs older Hispanics
Figure 20: Hispanics’ opinions on social media, by generation, April 2017
Unacculturated Hispanic Millennials’ focus on the positives; acculturated ones are more skeptical
Figure 21: Hispanic Millennials’ attitudes toward getting to know people on social media, by level of acculturation, April 2017
Unacculturated Hispanic Millennials more hesitant about what is new
Figure 22: Hispanic Millennials’ attitudes toward exposure of people, information, and brands on social media, by level of acculturation, April 2017
Less-affluent Hispanic Millennials more likely to consider social media useful for their careers
Figure 23: Hispanic Millennials’ attitudes toward career prospects using social media, by household income, April 2017

PERCEPTIONS OF TRENDS
Hispanic Millennials embrace the availability of multiple content sources
Figure 24: Content and social media trends positively impacting Hispanic Millennials, percent difference vs all US Millennials, April 2017
With the arrival of children, priorities change
Figure 25: Content and social media trends positively impacting Hispanic Millennials, by parental status, April 2017
Hispanic Millennials’ reaction to social trends is modest
Figure 26: Social trends positively impacting Hispanic Millennials, percent difference vs all US Millennials, April 2017
Hispanic Millennials more likely to value flexibility at work
Figure 27: Social trends positively impacting Hispanics, by generation, April 2017
More-affluent Hispanic Millennials embrace trends that allow them to take control of their lives
A note about greater inclusion of minority groups
Figure 28: Social trends positively impacting Hispanic Millennials, by household income, April 2017

SELF-CONFIDENCE
Hispanic Millennials are confident about their abilities
Communicating effectively with their kids
Being themselves in a professional environment
Maintaining personal health
Handling their own personal finances
Personally handling their general home maintenance
Figure 32: Hispanic Millennials’ confidence with their ability to perform duties/tasks, percent difference vs all US Millennials, April 2017
Yet, for some tasks their confidence still pales when compared to Gen X Hispanics
Figure 33: Hispanics’ confidence with their ability to perform duties/tasks, by generation, April 2017
Figure 34: Hispanic Millennials’ confidence with their ability to perform duties/tasks – Select duties/tasks, by parent status, April 2017
Hispanic Millennials’ confidence reflects division of labor at home
Figure 35: Hispanic Millennials’ confidence with their ability to perform duties/tasks – Select duties/tasks, by gender, April 2017

OPTIMISM TOWARD LIFE
Hispanic Millennials more optimistic about things they feel they can control
Figure 36: Hispanic Millennials’ optimism about their future, percent difference vs all US Millennials, April 2017
Hispanic Millennials are more optimistic than other Hispanic generations
Figure 37: Hispanics’ optimism about their future, by generation, April 2017
Figure 38: Hispanic Millennials’ optimism about their future – Personal factors, by level of acculturation, April 2017
More-affluent Hispanic Millennials more optimistic about factors they can’t control
Figure 39: Hispanics’ optimism about their future – External factors, by level of acculturation, April 2017